# 119-hr-6438: ROBINHOOD Act

119-hr-6438, ROBINHOOD Act, is a 119th Congress bill sponsored by Rep. Goldman, Daniel S. [D-NY-10] (D-NY); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-6438
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-6438
- Congress: 119
- Title: ROBINHOOD Act
- Status: introduced
- Introduced: 2025-12-04
- Sponsor: Rep. Goldman, Daniel S. [D-NY-10] (D-NY)
- Cosponsors: 11
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**20% excise tax on certain secured loans**. The bill targets borrowing by high-income individuals and charges an annual tax on covered secured loans and lines of credit. - High earners: Individuals with adjusted gross income over $400,000, or $450,000 for joint filers, are subject to the new excise tax when they use covered secured loans. - Which loans: Covers loans or revolving credit secured by capital assets when the available credit is based on the asset's value. It explicitly excludes residential mortgages, home equity loans and lines, margin loans, and loans secured by farmland. - Who pays and rules: The borrower is responsible for paying the tax annually. The Treasury Secretary may issue regulations to implement the tax and it applies to loans made after enactment with no phase-in or sunset.

## Cosponsors (11)

- Rep. Khanna, Ro [D-CA-17] (D-CA), 2025-12-17T00:00:00.000Z
- Rep. Cohen, Steve [D-TN-9] (D-TN), 2026-04-16T00:00:00.000Z
- Rep. Pettersen, Brittany [D-CO-7] (D-CO), 2026-04-21T00:00:00.000Z
- Rep. Smith, Adam [D-WA-9] (D-WA), 2026-04-20T00:00:00.000Z
- Rep. Foushee, Valerie P. [D-NC-4] (D-NC), 2026-04-20T00:00:00.000Z
- Rep. McGovern, James P. [D-MA-2] (D-MA), 2026-04-20T00:00:00.000Z
- Rep. Tlaib, Rashida [D-MI-12] (D-MI), 2026-04-28T00:00:00.000Z
- Rep. Deluzio, Christopher R. [D-PA-17] (D-PA), 2026-05-07T00:00:00.000Z
- Rep. Williams, Nikema [D-GA-5] (D-GA), 2026-05-12T00:00:00.000Z
- Rep. Lofgren, Zoe [D-CA-18] (D-CA), 2026-06-30T00:00:00.000Z
- Rep. Nadler, Jerrold [D-NY-12] (D-NY), 2026-09-03T00:00:00.000Z

## Provisions PRIA read

- 20% Tax on Loans for High Earners: cost, high. This bill would impose a 20% federal excise tax on the amount you borrow each year under certain secured loans or lines of credit. You would owe the tax only if your adjusted gross income is over $400,000 ($450,000 if you file jointly). Covered loans would be secured by capital assets and have avai…

## Related bills

- 119-hr-8800: National Defense Authorization Act for Fiscal Year 2027
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-7853: PrEP Access and Coverage Act of 2026
- 119-hr-51: Washington, D.C. Admission Act
- 119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025

## Sources
- [119-hr-6438 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/6438)

## Related
- [119-hr-8800: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-hr-8800)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-7853: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-hr-7853)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-hr-20)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-6438 (as of 2026-09-21).